Month: May 2022

Digital Collectible Owners Continue to Take Loans out Using NFTs as Collateral – Blockchain Bitcoin News

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While non-fungible token (NFT) collectibles have become a hot commodity over the last 12 months, a number of NFT owners are taking loans out against their NFTs. This month, a project called Nftfi has facilitated $25.6 million in NFT loans so far, and last month the lending marketplace recorded nearly $50 million in NFT loans. NFT Lending and Borrowing Continues to Grow NFTs have become a billion-dollar industry during the last year and a popular blockchain technology use case. Even though sales have slid in recent times amid the crypto…

Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15

Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and it’s a near-dead UST algorithmic stablecoin project. Avalanche price dips amid Terra’s tax evasion FUD AVAX’s price plunged by nearly 14% between May 18, where it traded near $35 to May 19 when the price dipped to $28.50. The dip coincided with a South Korean news agency report that claims Terraforms Labs, the developer of the Terra blockchain, owes 100 billion won (approximately…

Hyperledger Foundation deploy new versions of three blockchain tools to enhance ecosystem

Enterprise blockchain firm Hyperledger Foundation has announced the development and release of three roadmap projects: Cactus 1.0, FireFly 1.0 and a preview version of Iroha 2.0’s long term support (LTS). Operating under the umbrella of the Linux Foundation, Hyperledger supports an ecosystem of fourteen distributed ledgers. The deployment of the three technological tools is expected to assist consumers and businesses across areas of blockchain, Web3, and decentralized applications (dApps). We are pleased to announce these important development milestones for three projects; including Hyperledger Cactus 1.0, Hyperledger FireFly 1.0 and Hyperledger…

Bitcoin Selling Pressure Continues As Long-Term Holder SOPR Spikes Up

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On-chain data shows the Bitcoin long-term holder SOPR has recently observed spikes, suggesting that this cohort is still continuing to sell. Bitcoin Long-Term Holder SOPR Spiked Up When Price Crossed $30k As pointed out by a CryptoQuant post, selling pressure in the market still looks to be high as long-term holders are also looking to sell. The “spent output profit ratio” is an indicator that tells us whether the overall market is selling Bitcoin at a profit or loss right now. The metric works by checking the on-chain history of…

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Crypto Exchange Giant Coinbase Announces Launch of New Crypto-Focused Think Tank

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The leading US-based crypto exchange is announcing the launch of the Coinbase Institute, a new global think tank created to debate and advance the future of crypto and Web 3.0 protocols. According to a new Coinbase blog post, the think tank is launching with the purpose of bringing together academics, policymakers, and prominent figures within the crypto community to research and discuss the future of blockchain-based technologies. “Our mission is to accelerate rigorous, novel research, and to bring together the best minds across disciplines to fuel progress on decentralization, Web…

Here’s why bears aim to keep Bitcoin under $29K ahead of Friday’s $640M BTC options expiry

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Over the past nine days, Bitcoin’s (BTC) daily closing price fluctuated in a tight range between $28,700 and $31,300. The May 12 collapse of TerraUSD (UST), previously the third-largest stablecoin by market cap, negatively impacted investor confidence and the path for Bitcoin’ price recovery seems clouded after the Nasdaq Composite Stock Market Index plunged 4.7% on May 18. Disappointing quarterly results from top United States retailers are amping up recession fears and on May 18, Target (TG) shares dropped 25%, while Walmart (WMT) stock plunged 17% in two days. The…